Nation International Edutainment Public Company Limited agreed to acquire 63.76% stake in Landy Development Co., Ltd. from Master Ad Public Company Limited and Master & More Co., Ltd. for THB 70 million.
This transaction is considered as an acquisition of the total assets. According to the announcement of the acquisition or disposal of assets, Nation International Edutainment Public Company Limited is required to disclose information about such transactions to the Stock Exchange of Thailand (SET) and to provide the information memorandum regarding the acquisition of assets of Nation International Edutainment Public Company Limited to the shareholders within 21 days following the date of disclosure of the transaction to the SET. The deal is subject to approval from Nation International Edutainment Public Company Limited board. On February 22, 2021 Nation International Edutainment Public Company Limited board of directors approved the transaction. The Board of Directors has considered and viewed that the transaction is reasonable and most beneficial to the Nation International Edutainment Public Company Limited and its shareholders and does not constitute a conflict of interests and transaction information in the accuracy and completeness. Neither the Audit Committee nor any directors had a different view from the Board of Directors of the Nation International Edutainment Public Company Limited. The deal will be completed within first quarter of 2021. The funds which will be raised from this transaction will be used for working capital and business operation.